The current PE ratio for Black Hills stock as of Jun 22, 2026 is 18.84. This is calculated based on the current EPS of $3.87 and the stock price of $72.92 per share. The P/E ratio has grown by 16% from the past four quarters average of 16.2.
BKH PE ratio history
The average historical PE ratio of Black Hills for the last ten years is 25.44. The current PE ratio of 18.84 is 26% below the historical average. Over the past ten years, BKH's PE ratio was at its highest in the Jun 2016 quarter at 242.46, when the stock price was $63.04 and the EPS was $0.26. The lowest value was in the Mar 2018 quarter, when it reached 12.4 with a price of $54.3 and an EPS of $4.38.
Black Hills PE ratio by year
Maximum annual increase: 80.56% in 2019
Maximum annual decrease: -58.51% in 2017
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| 2025 | 17.4 | 16.23% | $69.42 | $3.99 |
| 2024 | 14.97 | 8.48% | $58.52 | $3.91 |
| 2023 | 13.8 | -21.9% | $53.95 | $3.91 |
| 2022 | 17.67 | -6.36% | $70.34 | $3.98 |
| 2021 | 18.87 | 12.05% | $70.57 | $3.74 |
| 2020 | 16.84 | -29.45% | $61.45 | $3.65 |
| 2019 | 23.87 | 80.56% | $78.54 | $3.29 |
| 2018 | 13.22 | -26.76% | $62.78 | $4.75 |
| 2017 | 18.05 | -58.51% | $60.11 | $3.33 |
| 2016 | 43.5 | N/A | $61.34 | $1.41 |
| 2015 | N/A | N/A | $46.43 | -$0.71 |
| 2014 | 17.98 | -8.92% | $53.04 | $2.95 |
| 2013 | 19.74 | 27.11% | $52.51 | $2.66 |
| 2012 | 15.53 | -42.18% | $36.34 | $2.34 |
| 2011 | 26.86 | 57.54% | $33.58 | $1.25 |
Black Hills PE ratio by quarter (TTM)
| Year | PE ratio | PE change | Price | EPS |
|---|---|---|---|---|
| Mar 2026 | 17.94 | 3.1% | $69.41 | $3.87 |
| Dec 2025 | 17.4 | 12.19% | $69.42 | $3.99 |
| Sep 2025 | 15.51 | 10% | $61.59 | $3.97 |
| Jun 2025 | 14.1 | -8.62% | $56.1 | $3.98 |
| Mar 2025 | 15.43 | 3.07% | $60.65 | $3.93 |
| Dec 2024 | 14.97 | -8.66% | $58.52 | $3.91 |
| Sep 2024 | 16.39 | 22.04% | $61.12 | $3.73 |
| Jun 2024 | 13.43 | 0.07% | $54.38 | $4.05 |
| Mar 2024 | 13.42 | -2.75% | $54.6 | $4.07 |
| Dec 2023 | 13.8 | 5.26% | $53.95 | $3.91 |
| Sep 2023 | 13.11 | -18.87% | $50.59 | $3.86 |
| Jun 2023 | 16.16 | -0.12% | $60.26 | $3.73 |
| Mar 2023 | 16.18 | -8.43% | $63.1 | $3.9 |
| Dec 2022 | 17.67 | 4.12% | $70.34 | $3.98 |
| Sep 2022 | 16.97 | -3.19% | $67.73 | $3.99 |
BKH Price vs fair value
BKH average PE ratio chart
What this chart measures
The Historical Valuation Regime chart shows where the stock's current valuation sits relative to its own historical valuation range over the selected lookback period.
This is a history-relative tool, not a market-relative percentile. It does not compare the stock to other companies. Instead, it compares each historical valuation reading to the stock's own past readings.
Percentile logic
The threshold lines are calculated them from the stock's real historical values using percentile interpolation. That is why some colored bands are narrow while others are wide: the band widths reflect how the stock actually traded through time.
Regime map
| Historical percentile | Regime | Chart meaning |
|---|---|---|
| 0-10 | Historically Low | Deep cheap zone |
| >10-25 | Below Average | Cheap relative to history |
| >25-75 | Average | Within the normal historical range |
| >75-90 | Above Average | Expensive relative to history |
| >90-100 | Historically High | Extreme or stretched valuation |
How to read each part
| Chart element | What it tells you |
|---|---|
| Main line | The actual historical valuation values over time for the selected metric. |
| Dashed horizontal lines | The stock's computed P10, P25, Median, P75, and P90 thresholds for the selected period. |
| Colored bands | The historical valuation zones between those thresholds. |
| Metric boxes | Current ratio, historical median, current percentile, and current regime. |
| Timeline strip | A condensed regime history showing how the stock moved between cheap, fair, and expensive states across each observation. |
Important metric definitions
Current Percentile is the percentile rank of the latest valid historical observation within the selected lookback range.
Current Regime is assigned directly from the latest observation's percentile bucket using the fixed 10 / 25 / 75 / 90 cutoffs shown above.
How to use it well
This chart is most useful for answering a narrow question: Is this stock trading high, low, or normal relative to its own history? It works best alongside growth, profitability, and forward-looking business analysis, because a stock can deserve a higher or lower regime if its business quality has changed.
BKH's current P/E ratio is above the 3 and 5-year historical averages, but it is below the 10-year average.
PE comparison
Black Hills's P/E of 18.84 is above the industry average but below the Utilities sector and its peers average. But compared to its Utilities sector average of 19.66, Black Hills's P/E is only 4.2% lower.
BKH PE vs peers
Compared to its peers DUK and XEL, BKH's PE ratio stands lower, however it is higher than EXC's and AVA's. Black Hills is presently trading at a lower PE ratio (18.84) than its peer group average of 21.2.
| Stock name | PE ratio | Market cap |
|---|---|---|
| AVA Avista Corp | 16.14 | $3.35B |
| EXC Exelon Corp | 16.99 | $47.82B |
| BKH Black Hills Corp | 19.01 | $5.6B |
| DUK Duke Energy CORP | 19.19 | $97.68B |
| AEE Ameren Corp | 19.86 | $30.77B |
| CMS Cms Energy Corp | 20.63 | $23.14B |
| XEL Xcel Energy Inc | 22.92 | $49.94B |
| LNT Alliant Energy Corp | 23.29 | $19.19B |
| MDU Mdu Resources Group Inc | 23.51 | $4.52B |
| NWE Northwestern Corp | 25.89 | $4.35B |
| CNP Centerpoint Energy Inc | 26.74 | $28.51B |
Frequently asked questions
What is Black Hills's PE ratio?
BKH's price to earnings ratio is 18.84 as of Jun 22, 2026.
What is the 3-year average PE ratio for Black Hills (BKH)?
As an average over the last 3 years, BKH stock has a PE ratio of 15.14.
What is the 5-year average PE ratio for Black Hills (BKH)?
As an average over the last 5 years, BKH stock has a PE ratio of 16.08.
What is the highest PE ratio for BKH?
In the last ten years, the Jun 2016 quarter recorded the highest quarterly PE ratio at 242.46.
How does the current PE ratio for BKH compare to its historical average?
The current price to earnings ratio of BKH is 26% lower than the 10-year historical average.
How is BKH's PE ratio calculated (Black Hills PE ratio formula)?
To determine the PE ratio, divide the most recent stock price by the TTM earnings per share (EPS). As of today (Jun 22, 2026), Black Hills's stock price is $72.92. The earnings per share for the trailing twelve months (TTM) ending Mar 2026 is $3.87. Therefore, Black Hills's P/E ratio for today is 18.84. PE RATIO(18.84) = STOCK PRICE($72.92) / TTM EPS($3.87)
All PE ratio stats are based on quarterly TTM periods, unless otherwise specified.